RAKIA CEO Dr. Khater Massaad receives 'fDi Personality of the Year' Award

Dr. Khater Massaad has been conferred with the award in recognition of his efforts in attracting foreign investment to Ras Al Khaimah and his role in the spectacular transformation of Ras Al Khaimah into a thriving business and investment destination in the region.

In being named the `fDi Personality of the Year', Dr. Massaad joins the ranks of such previous winners as, former Mexican President Vicente Fox (2003), Brazilian President Luis Inácio Lula da Silva (2004), former Mayor of Seoul Lee Myung-bak (2005) and Ontario Premier Dalton McGuinty (2006).

The annual 'fDi Personality of the Year' Award recognises the political and business leaders around the world who have been the most proactive, dynamic and innovative in securing foreign investment and improving the business environments of their jurisdictions. Regional winners are selected for Africa, Asia, Europe, Latin America, the Middle East and North America; and out of these candidates a global winner is chosen.

Commenting on winning the Award, Dr. Massaad said "It is a great honour to receive the `fDI Personality of the Year' Award. Ras Al Khaimah has put in place a world class pro-business regulatory regime and enabling infrastructure for global investors to come in and succeed. I feel honoured for the global recognition of the RAK initiative that is fostering entrepreneurship and helping businesses succeed."

"This Award is in recognition to Dr. Massaad's diligent and successful efforts to attract foreign investment to Ras Al Khaimah thereby contributing greatly to the continued economic growth and development of the emirate and adding to its attraction as an investment location," Courtney Fingar, Editor of Financial Times' niche magazine fDi said.

The other winners of `fDi Personality of the Year' Award for 2007 included Kamal Nath, Indian Minister for Commerce and Industry (Asia and Global Winner) Henry M Paulson, US Treasury Secretary (North America). Sergio Fajardo Valderrama, Mayor of Medellin, Columbia (Latin America), Andrus Ansip, Prime Minister of Estonia (Europe), and Vincent Gadou Kragbé, Chairman and CEO of technology park VITIB and special adviser to the president of Côte d'Ivoire (Africa).

Dr. Khater Massaad, has been instrumental in the implementation of RAK Crown Prince, H.H. Sheikh Saud bin Saqr Al Qasimi's vision of making Ras Al Khaimah a regional hub for industrial, manufacturing and tourism investments.

Ever since its inception in 2005, RAKIA has been able to raise the international profile of the emirate and has attracted inward investments worth billions of dirhams. RAKIA has so far attracted over 575 companies, including many global industrial majors, to its industrial and free zones.

As the CEO of RAK Ceramics, Dr. Massaad has presided over the growth of the company to become the largest ceramic manufacturer in the world with manufacturing bases in six countries and exports to over 130 countries across the globe.

Dr. Massaad, who holds a Ph.D in Geophysics from the University of Lausanne, Switzerland and an M.Sc in Mathematics, is also at the helm of Ras Al Khaimah's recent ambitious initiatives like property developer RAKEEN, RAK Airways, Al Hamra Real Estate Development LLC, Pioneer Cement, among others.